Eastman Announces Higher Earnings Expectations for Second Quarter and Full Year 2010

Wednesday, Jun 02, 2010

During a presentation at the Goldman Sachs Basic Materials conference this morning, Eastman Chemical Company (NYSE:EMN) President and CEO Jim Rogers will announce higher expectations for the company’s second-quarter and full-year 2010 earnings per share. 

The higher earnings expectations are based on the global recovery in demand, and expectations that this demand level continues in the second half of the year, along with less volatile raw material and energy costs.  The company expects second-quarter 2010 earnings per share to be above $1.60 per share and full-year 2010 earnings per share to be between $5.25 and $5.50 per share. 

Any charges related to restructuring actions are excluded from earnings per share projections.

Eastman’s chemicals, fibers and plastics are used as key ingredients in products that people use every day.  Approximately 10,000 Eastman employees around the world blend technical expertise and innovation to deliver practical solutions. 

The company is committed to finding sustainable business opportunities within the diverse markets it serves.  A global company headquartered in Kingsport, Tenn., USA, Eastman had 2009 sales of $5 billion. 

For more information, visit www.eastman.com.

Source: Eastman